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As LA fires burn, reverse mortgage industry emphasizes need for servicer, insurer contacts

Housing Wire

Representatives from lenders and servicers, as well as individual originators, have told HousingWire s Reverse Mortgage Daily (RMD) that its imperative for borrowers to let their servicer know about anything that could impact the occupancy of their property due to the terms of Federal Housing Administration (FHA)-backed reverse mortgages.

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‘Find buyers before agents!’ Mortgage industry reacts to the NAR settlement

Housing Wire

Mortgage pros have closely monitored the commission lawsuit developments since a Kansas City, Missouri jury determined that NAR, HomeServices of America , and Keller Williams conspired to inflate or maintain high commission rates through NAR’s so-called Participation Rule. You should be finding buyers before real estate agents anyway.”

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The biggest challenge for the reverse industry in 2024? Mortgage rates

Housing Wire

Reverse mortgage business and mortgage business generally is not where people want it to be. That was a repeated idea shared by a group of reverse mortgage professionals when asked to assess what they see as the biggest industry challenges of the year. I think that’s true from an industry standpoint.

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Surging home insurance premiums challenge mortgage industry, regulators

Housing Wire

In response, the mortgage industry and federal regulators are aiming to determine the best courses of action to mitigate the financial burdens on both homeowners and insurance carriers. “American homes are increasingly underinsured, highlighting the need for the insurance industry and regulators to collaborate on solutions.”

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The mortgage industry is hiring again – but at different terms

Housing Wire

Applicants hoping to get a mortgage job in 2024. After cutting to the bone over the past three years, several large mortgage lenders are beginning to ramp up hiring. However, the industry is approaching this cycle with caution. “I’m Image created by AI in Midjourney.)

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The mortgage industry braces for (more) FICO price hikes

Housing Wire

In the halls of the Colorado Convention Center on Monday, it was hard not to overhear mortgage bankers gnashing their teeth over the rumored price hikes for Fair Isaac Corp (FICO) scores. per score to all mortgage lenders, independent of their volume. “It’s an abuse of power, a complete monopoly.” What will it cost?

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Dustin Owen exposes myths, red flags that plague the mortgage industry

Housing Wire

In a recent episode of “The Loan Officer Podcast,“ hosts Dustin Owen and John Coleman sit down to expose common mortgage industry myths that can impact everyone from the media to recruiters and branch managers. Owen says that your home is a five- to 15-year decision, while a mortgage is a five- to seven-year decision.